Dow Inc (DOW)
NYSE:DOW
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Earnings Data
Report Date
Jul 23, 2026Before Open (Confirmed)
Period Ending
2026 (Q2)Consensus EPS Forecast
1.18Last Year’s EPS
-0.42Same Quarter Last Year
Moderate Buy
Based on 17 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call balanced significant near-term challenges stemming from unprecedented Middle East-related supply disruptions and higher input costs with clear signs of operational resilience and multiple offsetting actions. Management reported solid Q1 financials (3% sequential volume growth, $9.8B sales, $873M EBITDA), meaningful in-quarter cost savings (~$193M), strong liquidity (~$14B), and a confident Q2 guide (~$12B revenue, ~$2B EBITDA) driven by accelerating polyethylene pricing and self-help initiatives (Transform to Outperform and cost programs). Key negatives include substantial global supply and logistics impacts (roughly half of ethylene/PE supply affected), an 8% decline in I&I sales, and Sadara-related equity losses and ongoing cash commitments. Overall, management framed the outlook as poised for upside, with pricing and asset advantages likely to drive margin recovery over coming quarters despite material uncertainty.Company Guidance
Solid First-Quarter Financials
Net sales of $9.8 billion and operating EBITDA of $873 million in Q1 FY2026; 3% sequential volume growth; approximately $193 million of period cost savings delivered in the quarter.
Confident Q2 Outlook
Second-quarter guidance of approximately $12 billion revenue and ~$2 billion EBITDA, driven by pricing gains, expanding margins, higher asset utilization, seasonal demand, and continued cost reduction.
Pricing Momentum in Polyethylene
Price momentum accelerated in March after the Middle East conflict; company baked in ~$0.26 per pound of integrated margin improvement into Q2 guide. Announced price moves include $0.05 (Jan), $0.10 (Mar), $0.30 (April), and a proposed $0.20 (May) per pound increases.
Advantaged Asset Footprint and Feedstock Position
Large, cost-advantaged Americas footprint operating at high rates (including new Poly7/Freeport polyethylene train) and feedstock flexibility in Europe provide competitive cost and supply advantages, enabling capture of incremental margin and export opportunities.
Transform to Outperform and Self-Help Programs
Transform to Outperform expected to deliver at least $2 billion in near-term EBITDA improvement (two-thirds productivity, one-third growth). Company on track to deliver remaining $1 billion cost-savings program by year-end and expects ~$1.1 billion total self-help benefits in 2026 (including $600M from 2025 program and $500M from Transform).
Early Operational Wins from Site Transformations
Transformation assessments at ~25% of large sites underway; first site transformation identified approximately $80 million in run-rate EBITDA improvement and the program is expected to deliver >$400 million of the committed $1.3 billion in productivity improvements.
Strong Liquidity and Financial Discipline
Approximately $14 billion total liquidity (cash + committed lines) and over $4 billion cash on hand at quarter end; no substantive debt maturities until 2029; working capital improved by >$300 million year-over-year in Q1.
Packaging & Specialty Plastics Volume Strength
P&SP polyethylene volumes increased across all regions versus prior year and prior quarter, with ~80% of P&SP product sales into higher-value, resilient end-markets (packaging, consumer, health/hygiene).
Performance Materials & Coatings Resilience
PM&C net sales of $2.1 billion were flat year-over-year with volume up ~2% year-over-year; downstream silicones delivered high single-digit quarter-over-quarter volume improvement, acting as a growth engine.
Management Continuity and Cost Actions
Planned CEO transition (Karen S. Carter to CEO July 1) executed via multiyear succession process; senior leadership changes delivered ~20% reduction in headcount and costs at that level.
DOW Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
DOW Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Apr 23, 2026 | $38.81 | $38.53 | -0.72% |
Jan 29, 2026 | $27.45 | $26.84 | -2.23% |
Oct 23, 2025 | $21.13 | $23.87 | +12.95% |
Jul 24, 2025 | $29.15 | $24.07 | -17.45% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Dow Inc (DOW) report earnings?
Dow Inc (DOW) is schdueled to report earning on Jul 23, 2026, Before Open (Confirmed).
What is Dow Inc (DOW) earnings time?
Dow Inc (DOW) earnings time is at Jul 23, 2026, Before Open (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is DOW EPS forecast?
DOW EPS forecast for the fiscal quarter 2026 (Q2) is 1.18.
